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Those typically have huge fees.
by callalex 3y ago
Those typically have huge fees.
- gosub100 3y ago$25 to move $50k in an atomic, irreversible way isn't a huge fee IMO. when you're dealing with that amount of money, the risk of it getting frozen or flagged for fraud is > $25. A lot of banks will let you send wires for free if you have a large enough balance.
- ska 3y agoNot int the context of these amounts. $20-ish to move 200k safely is nothing. If you are doing it internationally, it's typically tiny compared to the FX cost.
- Scoundreller 3y agoI’d be happier keeping the $25 tyvm.
- hef19898 3y agoAnd risk getting your account frozen "for no reason", really smart.
- ska 3y agoSure, write a personal check then and expect a lengthy hold. Or something else on the risk vs. PITA vs. cost framework. Point is, wires are cheap for what they do. They aren't your only option, but all options have tradeoffs.
- Scoundreller 3y agoThis is a debate between sending 4x ACHs over 4 days (presumably from the comfort of your own web browser) vs a wire (often requiring a visit or phone time).
- ska 3y agoright, and the trade off there is you may get flagged for structuring and locked out, right? As I said, there is a range of cost/risk/PITA options available. This is niche enough I don't think it's particularly worrying the banks don't support it easier.
- Scoundreller 3y agoWhat structuring? Both are way over mandatory SAR thresholds.